KEY POINTS:
China raised interest rates overnight (NZ time) for a sixth time this year as it tried to cool a price surge that has pushed inflation to its highest level in a decade.
Beijing has raised interest rates repeatedly and imposed investment curbs to slow spending on new factories, office buildings and other assets.
It worries that a glut of unneeded projects could lead to defaults on bank loans, causing a debt crisis.
The latest move takes the cash rate to 7.47 per cent.